Intelligence Feed event · Equity · 2026-09-18

    Flotek Loses $400M Puerto Rico Power Contract Representing 57% of Backlog

    Question

    Flotek Loses $400M Puerto Rico Power Contract Representing 57% of Backlog

    Direct answer

    Flotek Industries faced a major structural disruption following the termination of its $400 million agreement with Puerto Rico's Electric Power Authority (PREPA). The contract comprised 57% of Flotek's total backlog, directly impairing multi-year revenue projections and triggering acute operating uncertainty for the specialized industrial supplier.

    Original publisher
    Market Ontology
    Evidence through
    2026-09-18
    Published
    2026-10-20
    Revision
    1 · 2026-10-20

    Cite as: Market Ontology, “Flotek Loses $400M Puerto Rico Power Contract Representing 57% of Backlog”, revision 1, evidence through 2026-09-18. https://marketontology.com/market-events/2026-09-18/flotek-loses-400m-puerto-rico-power-contract-representing-57-of-backlog-e7b5e7

    EQUITY
    Flotek Loses $400M Puerto Rico Power Contract Representing 57% of Backlog
    Flotek Industries faced a major structural disruption following the termination of its $400 million agreement with Puerto Rico's Electric Power Authority (PREPA). The contract comprised 57% of Flotek's total backlog, directly impairing multi-year revenue projections and triggering acute operating uncertainty for the specialized industrial supplier.
    FTK
    Impact
    73
    SEP 18
    SIG
    85%
    FTK
    Flotek Loses $400M Puerto Rico Power Contract Representing 57% of Backlog
    Flotek Industries faced a major structural disruption following the termination of its $400 million agreement with Puerto Rico's Electric Power Authority (PREPA). The contract comprised 57% of Flotek's total backlog, directly impairing multi-year revenue projections and triggering acute operating uncertainty for the specialized industrial supplier.
    → Loss of 57% of order backlog eliminates projected forward operating cash flows for FTK, impairing debt service capacity and equity book value.
    Impact
    Flotek Industries faced a major structural disruption following the termination of its $400 million agreement with Puerto Rico's Electric Power Authority (PREPA). The contract comprised 57% of Flotek's total backlog, directly impairing multi-year revenue projections and triggering acute operating uncertainty for the specialized industrial supplier.
    Affected
    FTK
    Transmission
    Loss of 57% of order backlog eliminates projected forward operating cash flows for FTK, impairing debt service capacity and equity book value.

    How this development reaches the affected companies

    AssetExposure and channelDirectionEvidence
    FTKbacklog cancellation reducing revenue visibility and operational cash flowDown1-3mCancellation of $400 million PREPA contract representing 57% of backlog.

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    What happened next

    Price follow-up pending — no stored daily closes for these assets yet.

    Closing prices from stored daily bars; returns measured from the last close on or before the event date. Not a recommendation.

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